I had the same dilemma this past Xtmas, wait for the new F10 M5 or a new
E92 2012 M3...and??? I end up with a 2012 E92 Ltd Ed Frozen Silver M3 ZCP w/ M Performance Exhaust. To give you some perspective I also own a 2002 e39M5, 2003 S2K and the car I traded it in for the new M3...was 2006 E60 M5!!!

Here are a few reasons FYIt:

- I prefer NA engines to Turbo ones...nothing like high rpm if you enjoy driving...down and up shifting...

- Sound! Well, there is nothing like the S85 E60 V10 engine sound but the
S65 E92 V8 sound is as addictive and that's a lot to say...F10 active sound?? I reserve my comments....

- Size - the E60 was already too big for my like, so the new F10 is way too big of a car for me...the e39 is the perfect size for high-performance sedan...

- Interior - both of them have the same I-drive-Nav...everything else even though a little different, not enough as I like to drive not to play with gadgets...

- Looks - E92 M3 lines are magnificent and so well proportion...not too much not too little...stunning, after the Aston Martin V8 Vantage, best looking car!
F10 again, too long of a wheel base for my like...

- If you like torque, the "Beast" e39 is a blast, a few upgrades and you get 400hp and 400lbs/ft torque, and the car is superb, wonderful balance…

-The E92 M3 driving experience overall, the car feels much more tight and precise than the E60, and the brakes are excellent, plus nimbleness you mentioned; the car does everything I want a car to do…and you will always find a reason to drive it!

-The so praise F10 fuel efficiency MPG, well my E39 M5 gets 25MPG on the highway and 18MPG city…not bad for the “Beast”…

Just FYI – price was not a deciding factor…

If you like to be the Boss on the highway at high speeds, then it is an easy choice F10 M5…but remember there will always be something faster out there…